Global Pet Industries to set up wholly owned subsidiary for packaged drinking water
GLOBALPET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Global Pet Industries board approved incorporating a wholly owned subsidiary called Spiltrock Beverage Private Limited in Maharashtra to manufacture packaged drinking water. Initial investment is Rs. 1 lakh in cash for 100 percent equity stake. Promoters and directors Bipin Panchal and Nisha Panchal will also serve as directors on the new entity. The company says the new unit complements its existing business. The subsidiary is not yet incorporated, so further details on size and turnover are not available.
Very small initial investment of Rs 1 lakh; subsidiary not operational yet, so limited near-term impact. Reflects a diversification step into packaged water.